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A $5.5 trillion savings wipeout is raising risks for the US economy just as student loan payments are about to restart (www.businessinsider.com)
submitted 3 years ago by to c/aboringdystopia@lemmy.world
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[–] 3 points 3 years ago (1 child)

Banks aren't helping the savings accounts, I don't think I've had a lower interest rate on my savings account in my lifetime.

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  • [–] -1 points 3 years ago

    Look into High-Yield Savings Accounts (HYSAs) such as Marcus by Goldman Sachs or Ally. Majority of them will be online-only, but they tend to offer a higher rate than any brick-and-mortar bank.

    I personally use Ally because they also offer a pretty cool CD that you can break at any time with no penalties - I got in when it was 4.35%, but iirc it was at around 4.25% last time I checked. I have a 6-month emergency fund in there, so it can accrue interest while I don’t need it.

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